International automakers continue to adopt blockchain technology and introduce technology into many products, including ensuring the authenticity of the product and tracing it from the origin until it is installed in the car, and giving users the option to view the parts of the car industry through the blockchain.
BMW's South Korean subsidiary will soon launch a blockchain app with the mission of offering rewards to users, according to a report released by Korea Herald on Wednesday.
The new rewards application is called "BMW Vantage", and it is a membership program coming from "BMW" Korea, which will allow customers to collect reward points and use them to pay for products or obtain discounts on the services provided by the program.
According to the report, new buyers and first-time BMW buyers can get 300,000 to 900,000 points per purchase.
The report added that those who buy used "BMW" cars are also eligible for reward points based on the market value of those vehicles.
Buyers of the largest and most recent BMW car offers, such as the new 5 Series or the new 6 Series, can win up to 900,000 points when purchasing them.
While the company has advised that buyers of current models, such as the "X Series", may be eligible for up to 600,000 points.
"BMW" Korea branch added that users can also earn membership points through the game and other social features on the company's mobile app.
With regard to spending points, members can receive discounts on routine vehicle maintenance and other services provided by partner companies to "BMW".
In addition, users with a high-level membership can receive invitations to cultural events organized by the company.
"BMW Korea" indicated that while the "Vantage" application will be offered initially only in South Korea, then the program will be launched at the global level.
She added that experiments are currently underway and can be expected to be launched before the beginning of 2021.
For science, such blockchain-based applications have been found highly dependent in South Korea.
For example, citizens in Busan, the second most populous city, register their digital IDs on a public blockchain, allowing for seamless and paperless use of many everyday services in South Korea such as verifying driver's licenses.
Developments and the adoption of blockchain technology is a big bet raised by the Korean government, which seeks to expand the adoption of blockchain technology and artificial intelligence.
Earlier this year, a $ 400 million Korean government-backed fund was announced to invest in such emerging technologies.
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